Organe de Asamblare investments to total 9.8m euros

The Brasov-based company Organe de Asamblare, which specialises in the production of screws and rivets for use in the automotive industry and railway infrastructure, will carry out an investment programme worth 9.8 million euros until 2007. The money will be directed towards the acquisition of new automated manufacturing lines and to the upgrading of the already existing ones, especially for the Automotive Division. The investments are part of the new restructuring and economic relaunch strategy initiated by SIF Transilvania, the majority shareholder in the company. “A constant decline in demand on the domestic market for such products has been noticed over the last five years, caused by slippages in the Romanian economy, and which led to a reduction in orders from the truck, tractor and off-road vehicle industry, as well as by the penetration of the market by Asian products that enter the country with lower prices than the goods made in Romania,” Cornel Cazacu, the general manager of the Brasov-based company told ZF TRANSILVANIA. ZF